Applied Materials stock hits a fresh record — what’s driving AMAT’s outsized rally today
Applied Materials shares jumped 6.7% to $286.96, hitting a record $287.68 Monday as chip-equipment stocks rallied. ASML climbed after a Bernstein upgrade, while Lam Research and KLA also gained. The moves come ahead of Friday’s U.S. jobs report, which could shift rate expectations. Applied faces ongoing risk from U.S. export curbs that may cut $600 million from 2026 revenue.